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Consent-General Government   # 9.
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Board of Supervisors |
County Administrator   |
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Subject |
Approve 30-year airport ground lease with Malcolm Bond. (Annual general fund revenue $2,640) (Nunes/Engel) |
Recommended Action |
Approve 30-year airport ground lease with Malcolm Bond. |
Strategic Plan Goal(s) |
Thriving Residents
Safe Communities
Sustainable Environment
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Reason for Recommended Action/Background |
The airport lease includes a ministerial project and is consistent with the Airport Master Plan, Airport Layout Plan and existing Aviation Zoning. The ground lease will generate $2,640 in the first year, plus a 2.5% annual cost-of-living adjustment. In addition, new based aircraft will bring about $3,000 per year in property tax to the general fund. All long term leases require Board approval. |
Collaborations (including Board advisory groups and external partner agencies) |
County Counsel |
Competitive Bid Process |
N/A
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Fiscal Impact |
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Source of Funds for this Expenditure |
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Explanation (Expenditure and/or Revenue) |
Further explanation as needed: |
No general fund cost. This lease will generate annual ground lease revenues to the Airport Enterprise Fund and about $2,640 per year to the general fund in property taxes. |
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